He said the remaining 70 kilometres of the pipeline would be completed by the middle of 2019.

“The 130 kilometres by 48 inches/36 inches Obiafu/Obrikom-Oben, OB3, pipeline with the capacity to link the eastern and western parts of the country with about two billion SCF of gas daily, was at 92 per cent completion and would also be concluded by the middle of the year,” he said.

The Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO), says the Nigeria’s energy supply remained very poor.

He also lamented that 70 per cent of households and small businesses in Nigeria hardly get more than four hours of electricity daily.

This, he said, was because 70 per cent of electricity generated by power companies was lost before it got to the consumers.

“The gap in terms of energy supply is disgraceful. The energy gap in Nigeria is the foundation for so many of the country’s economic and social development problems.

” In most countries, when you talk about energy security, they are talking about the health of their people, education of their people, for their children and for their future.

“They are talking about being a competitive country where people can invest. They are talking about the environment, productivity and food security among others.

“Energy is not standing alone. Our industry is not about producing and exporting oil; it is about how we impact our societies.”

He blamed the loss of electricity generated on aging equipment, funding problems and sometimes, vandalism.

He, however, said that the gap presents massive opportunity for large scale on grid and small scale off-grid investments.

“Technologies and business models exist for cleaner, affordable and scalable solutions. Alternative energy solutions can have short term financial and social impact for investors on livelihoods and economic activity,” he added.

Mr Debo Fagbami, Chairman, Society of Petroleum Engineers (SPE), said the lecture series was an avenue for stakeholders to bring ideas that could cause development in the sector.

He said the society would continue to play its part to ensure that the sector contributed effectively to growth and development of the country at large.

The Oloibiri lecture series is an annual event that brings stakeholders in the industry together to discuss issues that would drive growth and development of the sector.

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